How Formula 1 and NFTs Came Together

Red Bull Racing made history last month as their vehicles for the Formula 1 Grand Prix sported top NFT avatar project Azuki in Abu Dhabi. Partnering with Bybit, Azuki’s developer Chiru Labs, created a never-before-seen NFT artwork inspired by the industry’s biggest anime NFT collection. But what does that mean for the future of web3 and racing.

Lightning Azuki NFT Hits Formula 1

The NFT, known as Lightning Azuki, alongside the Bybit exchange logo, adorned the Red Bull Racing vehicles. Exciting for web3 and racing fans alike! The team’s Principal Partner, Christian Horner, highlighted the partnership’s collaboration with Web3, stating “It’s been an eye-opener for us to the vast opportunities Web3 offers. This unique project is the perfect combination of creativity, innovation, and passion, matching our ethos on the track”.

Regarding the partnership, Bybit tweeted to say “Bybit worked with Red Bull Racing to put an Azuki onto the race car *for free*. We also pushed for printing the Azuki on Bybit’s side chassis logo spot (one of the most valuable Bybit assets) because Bybit wanted to go all out for this historical showcase and web2*web3 crossover”.

8,494 limited-edition replicas of Lightning Azuki were distributed for free on a first-come-first-served basis using the Bybit NFT marketplace.

About Bybit’s NFT marketplace

Bybit NFT Marketplace calls itself ‘your one-stop destination for listing and trading NFTs’. Plus, it recently won an award at the Middle East Blockchain awards for the “Best NFT Marketplace 2022”. The award is even more impressive knowing the massive push the middle east is making towards the metaverse. In keeping with the region’s innovation, Bybit NFT Marketplace offers zero transaction fees.

About Bybit

Besides that, the mother company Bybit has a vision to become the crypto ark of the world. In short, it allows you to purchase cryptocurrencies whilst empowering crypto believers with next generation tools, support, and opportunities. Dedicated to providing a user-friendly platform with advanced features, Bybit also supports users to learn about web3. Just check out its blog to learn how to buy theta or stake and earn coins with ease!